Accuride Corp., a supplier of components to the North American and European commercial vehicle industries, has filed its definitive proxy materials with the U.S. Securities and Exchange Commission in connection with the company’s special meeting of shareholders to vote on the transaction with affiliates of Crestview Partners.
As previously announced on Sept. 2, Accuride signed a definitive agreement to be acquired by affiliates of Crestview, a leading private equity firm, for $2.58 per share in cash. The Accuride board of directors unanimously recommends that shareholders vote “FOR” the proposed merger on the proxy card.
In connection with the filing and mailing of its definitive proxy statement, Accuride is mailing a letter to shareholders detailing the value of the Crestview transaction for shareholders. In its letter, Accuride highlighted that:
- Accuride shareholders will receive a substantial premium and immediate and certain cash value for their shares;
- The Crestview transaction is the outcome of a lengthy, thorough and comprehensive strategic alternatives review; and
- The Crestview transaction eliminates standalone risk during a period of ongoing challenges in the North American commercial vehicle industry.